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LB1008

Nebraska School District Property Tax Relief Act Changes

Last scannedAug 25, 2026, 3:18 AM

In one sentence

This bill sets specific minimum amounts of money for property tax credits to help homeowners pay school taxes from 2024 through at least 2031 and explains how the funds are shared with counties.

Sets a minimum total amount of relief starting at $750 million in 2024, rising to specific amounts each year until 2029, then increasing by property value growth plus an extra $75 million in 2030.
Requires that any money transferred to the School District Property Tax Relief Credit Fund be added to the yearly minimum relief amount for that tax year.
Directs county treasurers to calculate a tax credit for each property based on how much school tax is owed compared to all school taxes in the county.
Allows homeowners with homestead exemptions to receive this credit if they still owe money after their exemption is applied.
Requires unused credits from homes where the credit makes the tax bill less than zero to be sent back to a state fund by July 1 of each year.

Homeowners who qualify for homestead exemptions and pay property taxes in Nebraska school districts.
County treasurers responsible for calculating credits, keeping one percent for costs, and sending funds to schools.
The Property Tax Administrator who determines how much money goes to each county.

This bill was indefinitely postponed, meaning it did not become law in its current form.
For tax years after 2031, the minimum relief amount depends on future changes in property values and a three percent increase.

Plain language

Property tax credit: An amount of money that reduces the total property taxes a homeowner owes to school districts.
Homestead exemption: A rule that lowers the taxable value of a home for people who live in it as their main residence.
School District Property Tax Relief Credit Fund: The state account where money is kept to pay for these property tax credits and receive returned unused funds.

Official record

Source attached

Change provisions relating to the amount of relief granted under the School District Property Tax Relief Act

Official activity